Pension plans. A search for "pension bailouts" gets 1,910,000 hits. Now normally, the dollar ammounts involved here would get most peoples attention, and any retirement plan that has this much trouble would get a bad reputation, but it doesn't.
The pension reform act of 2006, passed by Congress, put our collective foot down, on the practice of companies that would use the pension funds, with the intent of someday putting it back. Presumably, now the funds are where they should be, and that's a good thing.
But it is telling that if you are familiar with the word "bailout" before last year, it most likely had to do with someones pension plan.
Before our current economic situation hit the fan, the financial experts were casting a dark cloud over the future of pensions. The common advice was to convert pensions over to 401k plans, and many did. That was then, and this is now.
And those Republicans, the ones who voted for pension bailouts over the years?
They got re-elected, probably.


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